Waldport, Oregon Property Taxes
The median property tax rate in Waldport, OR is 0.83%, slightly lower than both the national median of 0.99% and the Oregon state median of 0.86%. With a median home value of $341,460 in Waldport, the typical annual property tax bill amounts to $2,724, which is just below the national median of $2,690. Property taxes in Waldport are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Waldport's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Waldport or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waldport, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$2,834
Ownwell’s Waldport Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Waldport with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Waldport to provide an accurate estimate of your property tax bill. This helps you gain a clear understanding of your potential tax liabilities, making financial planning more straightforward. For those interested in more detailed insights, localized trends on a neighborhood level are available further down the page. Your property’s assessed value is determined by Lincoln County for tax purposes, factoring in any applicable exemptions.
Property Tax Rates Across Waldport, Oregon
Property taxes in Waldport, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waldport is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Waldport set these rates annually, and they can vary across different neighborhoods. Each year, Waldport estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Waldport's effective property tax rate to other areas in Lincoln County and the national median. For comparison, the zip code 97394 has the highest median property tax rate of 0.83%, while the same zip code has the lowest median tax rate of 0.83%. Understanding how these areas compare with Waldport provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waldport Tax Rate
0.83%
Average Lincoln County Tax Rate
0.84%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waldport, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97394 | 0.64% | 0.74% | 0.83% | 0.95% | 1.07% |
Source: Ownwell
Property Tax Assessment Values Across Waldport, Oregon
In Waldport, Oregon, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Lincoln County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Waldport, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Waldport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Waldport is $341,460, with the median tax bill being $2,724 in the 97394 zip code.
Average Waldport Assessed Value
$341,460
Average Lincoln County Assessed Value
$341,090
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waldport, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97394 | $70,470 | $198,840 | $341,460 | $481,610 | $647,560 |
Source: Ownwell
Property Tax Bills Across Waldport, Oregon
In Waldport, located in Lincoln County, OR, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Various factors such as property size, location, and improvements can influence this assessed value. The tax rate, set by local taxing authorities, is then applied to the assessed value to determine the tax bill. For homeowners in Waldport, the median home price is $341,460. Property tax bills can vary significantly, with the 25th percentile paying around $1,679 and the 75th percentile reaching up to $4,015. Those in the 90th percentile may see bills as high as $5,498. The highest median tax bill in the area is $2,724, which is lower than the national median property tax rate of 0.99%. Understanding how these factors interplay helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Waldport Tax Bill
$2,724
Average Lincoln County Tax Bill
$2,817
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Waldport, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97394 | $596 | $1,679 | $2,724 | $4,015 | $5,498 |
Source: Ownwell